Owens & Minor (NYSE:OMI) Issues FY 2024 Earnings Guidance

Owens & Minor (NYSE:OMI) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 1.450-1.550 for the period, compared to the consensus estimate of 1.590. The company issued revenue guidance of $10.6 billion-$10.8 billion, compared to the consensus revenue estimate of $10.7 billion. Owens & Minor also updated its FY24 guidance to $1.45-1.55 EPS.

Owens & Minor Price Performance

Owens & Minor stock opened at $12.00 on Tuesday. The business has a 50 day simple moving average of $14.62 and a 200 day simple moving average of $16.28. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.09 and a quick ratio of 0.51. The company has a market capitalization of $925.20 million, a PE ratio of -21.43, a price-to-earnings-growth ratio of 0.43 and a beta of 0.41. Owens & Minor has a one year low of $11.75 and a one year high of $28.35.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Owens & Minor had a positive return on equity of 14.66% and a negative net margin of 0.40%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the business earned $0.44 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts forecast that Owens & Minor will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on OMI. Barclays dropped their price objective on shares of Owens & Minor from $23.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Robert W. Baird decreased their price target on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday. StockNews.com cut shares of Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Citigroup upgraded Owens & Minor from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $24.00 to $19.00 in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. dropped their target price on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.29.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.